Clean Energy CEO Applauds Congress and President Obama

Within the Highway Trust Fund legislation passed by both Houses of the U.S. Congress this week and expected to be signed by President Obama, is a provision to equalize the federal tax on liquefied natural gas (LNG) to an energy-equivalent basis with diesel and gasoline.

The result will lower the tax on LNG by 14.1 cents per gallon. Twenty-six State Legislatures have already taken similar action.

In response, Andrew J. Littlefair, president and CEO of Clean Energy Fuels Corp. (NASDAQ: CLNE), noted: “The use of LNG as a transportation fuel continues to grow in heavy-duty trucks, locomotives and large ships because it burns cleaner and the price is reliably lower due to the fact that it originates from North America. Anyone who cares about a cleaner environment and energy independence should be very grateful for what the U.S. Congress did this week by making LNG that much more competitive as a transportation fuel of choice.”

The company went on to noted that “natural gas fuel costs up to $1.00 less than gasoline or diesel, depending on local market conditions, and also reduces greenhouse gas emissions up to 30% in light-duty vehicles and 23% in medium to heavy-duty vehicles. In addition, nearly all natural gas consumed in North America is produced domestically.”

Category: General Update, Green